Prepayment Analyzer

Calculate the effects of prepaying by completing the boxes below. Click on HELP for any box if you do not know what to enter.

1. Mortgage Amount	$	Compute Mortgage Amount	help
2.Interest Rate	%	Compute Interest Rate	help
3.Initial Amortization Period	Year(s) Month(s)	Compute Amortization Period	help
4.Initial Mortgage Payment	$	Compute Mortgage Paymen	help
5.Payment Frequency	Monthly Semi-Monthly Bi-Weekly Weekly  Accelerated:  No Yes		help
6.Lump Sum Payment (Annually)	$  Period:  Year(s)		help
7.Mortgage Payment Increase (Annually)	% $ Period: Year(s)		help

Compute Results

Results

Revised Amortization period Year(s) and Month(s). This also represents a savings of $ in interest.

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Help for: Mortgage Amount

Enter the amount of money you want to borrow. Do not enter a dollar sign.

You can calculate the maximum mortgage amount you qualify for (based on income and debt) by using the Maximum Mortgage calculator, located in the "Mortgage Calculator" section.

Minimum: $10,000
Maximum: $1,000,000

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Help for: Interest Rate

Enter the interest rate you would like to use for calculating your payment and amortization schedule. Enter the interest rate in a whole number format. For example: 4.56 NOT .0456

Click on the link (view rates) in the calculator to see all our current interest rates.

Minimum: 2.0
Maximum: 25.0

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Help for: Amortization Period

Enter a number representing over how many years you would like to repay your mortgage. The standard is 25 years.

Minimum: 1 Year
Maximum: 40 Years

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Help for: Mortgage Payment

The mortgage payment is the amount the borrower would finance in order to pay off the desired loan. The payment corresponds to the selected frequency.

Minimum: $1.00

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Help for: Payment Frequency

Select how often you would like to make your mortgage payments. Number of payments per year:

Monthly: 12 (once a month).
Semi-Monthly: 24 (twice a month).
Bi-Weekly: 26 (once every two weeks).
Weekly: 52 (once a week).

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Help for: Annual Prepayment

The amount of principal you are allowed to pay off every year without paying a penalty to the lender. Usually expressed as a percentage of the original mortgage balance.

Minimum: 0% or $0
Maximum: 100% or $ (Mortgage Amount Entered)

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